Armenia: Council of Europe Supports Anti-Corruption Committee in Enhancing Money Laundering Detection Tools
The Council of Europe recently organized a two-day training event for investigators and operative-intelligence officers of Armenia’s Anti-Corruption Committee to combat corruption and money laundering offenses. The event aimed at enhancing their competencies in conducting financial investigations and detecting complex financial schemes used to disguise illicit funds.
Training Objectives
- Enhance competencies in conducting financial investigations
- Detect complex financial schemes used to disguise illicit funds
- Improve national inter-agency cooperation mechanisms
- Understand the use of digital currencies and cryptocurrencies in laundering proceeds of crime
- Emphasize international cooperation in financial investigations and asset recovery
Training Content
Typologies and Tools for Detecting Money Laundering and Corruption
- Detection of money laundering schemes
- Typologies of corruption offenses
- Use of financial intelligence to detect suspicious transactions
National Inter-Agency Cooperation Mechanisms
- Roles and responsibilities of national agencies in combating economic crime
- Effective communication and information sharing between agencies
Digital Currencies and Cryptocurrencies in Laundering Proceeds of Crime
- Introduction to digital currencies and cryptocurrencies
- How they are used to launder proceeds of crime
- Detection and prevention strategies
International Cooperation in Financial Investigations and Asset Recovery
- Importance of international cooperation in combating economic crime
- Mechanisms for sharing information and coordinating efforts across borders
- Best practices for asset recovery and repatriation
Training Methods
- Dynamic group exercises
- Discussions and debates
- Tailored case studies to advance knowledge on collecting intelligence and developing evidence in economic crime cases
Emphasis on International Cooperation
- The need to launch investigations based on information received from other jurisdictions
- Referrals from national authorities
- Financial Intelligence Unit
Program Background
The training event is part of the European Union and Council of Europe’s joint program “Partnership for Good Governance”, co-funded by both organizations and implemented by the Council of Europe as part of its Project on “Enhancing national capacities for effective prevention and fight against economic crime in Armenia”.
Event Details
- Date: May 31 to June 1, 2024
- Location: Tashkhadzor, Armenia
About the Council of Europe
The Council of Europe is the continent’s leading human rights organization, with 46 member states, including Armenia.